Form W-9 is an Internal Revenue Service (IRS) form used to verify and certify that you are working with a legitimate business that is paying its taxes.
The basic information on a W-9 includes;
- Vendor’s business name (or personal name if a sole proprietor)
- Type of business
- Business employer identification number (EIN) or social security number
- A signature
W-9s are required only for business-to-business relationships where more than $600 is paid in the calendar year. The $600 rule applies to labour and services. For direct sales, a W-9 is required for total purchases over $5,000.